Qunar Aims to IPO in US in 2012

Chinese travel search engine Qunar has announced plans to IPO in the US in 2012. Sina Tech first reported the news, citing Qunar spokeswoman Jenna Qian.

Baidu (NASDAQ: BIDU) earlier this year invested $306 million in Qunar, becoming its largest institutional stakeholder. Baidu made the strategic investment to realize synergies in the fast-growing travel search market.